China Petroleum and Chemical Corporation (Sinopec; SNP.NYSE; 600028.SH; 0386.HK) is considering the purchase of Spanish home builder Sacyr Vallehermoso SA (SYV.SM)’s stake in oil firm Repsol YPF SA (REP.SM), the Financial Times reported. The Spanish construction group hopes to repay its leading lenders, who are refusing to roll over its US$3.3 billion debt nearing maturity, by selling half of the firm’s 20% stake in Repsol. Sources said the indebted builder has identified two candidates for a quick sale of up to half its holdings, worth US$3.5 billion at current market value. Sacyr’s advisers have approached Sinpec to buy 10% of its shares in Repsol, but also indicated that another unnamed Latin American oil group showed an interest in the deal. Industry observers doubt that Sacyr will close a deal by Wednesday, as some of its lending banks – including Crédit Agricole (ACA.Euronext), Citigroup (C.NYSE, 8710.TYO) and Banco Santander (STD.NYSE, BNC.LSE, SANT.Euronext, SAN.BMAD) – might allow Sacyr several months more to find a buyer.